- Yi: +13.45
- CAKE, DRI, MRVL, SBUX and UNG are attempting to bottom out.
- TWTR is at the average oversold level.
- BBRY, EGPT, GT, PHI, SEE, SHAK and XON are moderately oversold.
- CTB and IWM are trying to hold rising trend line support.
- PETX and SFTBY are attempting to hold the 65 DMA.
- AMAT, BRKS, CREE, EBAY, IJH, ORCL, SMH, $UST3M and XLB are attempting to hold the 28 DMA.
- SYY is up against the 65 DMA.
- CVS is up against falling trend line resistance.
- CANE and SGG are up against rising trend line resistance.
- DBO, DBP, GLD, $SILVER, $SUGAR and $XOI are moderately overbought.
- ADP, PG and UGA are at the average overbought level.
- GILD is toppy.
- BA and $GASO are possibly forming a top in this area.
- A, FL and QVCA are setting up to break out up or down.
- Anything posted may be off base.
For those of you who have inquired, the "Yi" is my own proprietary overbought/oversold indicator. A +10 reading generally indicates we are overbought in the overall market, and -4 or a -5 reading is telling us the market is a bit oversold. The "zero line" in between the plus and minus readings will sometimes act as an area of support or resistance, so I tend to keep an eye on that level also. A reading of +20 is extremely overbought, and a -10 indicates the market is extremely oversold.
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